Published on : 06 Nov 2025, 11:03 am

The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) in Baku was the ‘finance COP.’ The headline outcome, the New Collective Quantified Goal on climate finance (NCQG) was US$300 bn per year, from developed to developing countries, by 2035. It was deemed a failure by the Global South and much of civil society, in terms of the quantity, as well as the nature of negotiations that led to it. What was also written into the decision text was the aspirational target of US $1.3 trillion per year, to be achieved by 2035, by a variety of actors. This was proposed to be achieved through a ‘Baku to Belem Roadmap to $ 1.3 tn’ (the Roadmap) to be created by the presidencies in time for COP30 in Bele

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